ABS

SRTs are expected to get a boost as policymakers look for ways to revive Europe's €1.2 trillion securitization market and increase financing for housing, energy and defense.

O'Donnell, a partner, will work in its New York office and Menon is a director in London.

The group is negotiating a reworking of the debt, which FAT Brands has struggled to service despite relatively steady performance at its chains.

Bespoke securitizations have been gaining in popularity as private fund managers look for ways to raise cash amid a slump in dealmaking and fundraising.

Notes are anticipated to repay in October 2032, with a final maturity date of December 2055.

Loans for hotels and motels, except those that have casinos, account for 19.43% of the pool balance, the largest portion.

In Zayo Issuer's payment structure, senior fees are paid first and then interest is paid monthly on all remaining outstanding classes of notes.

The Reliance offering drew a robust response, as it gave investors a chance to own top-rated asset-backed securities in a market still dominated by non-bank financial firms.

The deal must own at least eight assets, otherwise it will begin to use any excess cash to fully pay down the notes.

HYPER 2025-1 is DataBank Holdings' first hyperscale data center securitization, secured by the data centers in Virginia, Georgia, and New York.

Notes are expected to pay a coupon of about 2.5% over the Swiss Average Rate Overnight (SARON) with an expected maturity of seven years.

Ratings analysts caution that the notes have a WA life of about three years while, and the underlying asses have a WA remaining term of about 20 years.

The percentage of larger loans in HGVT-2 is 20.08%, S&P said. While that is lower than the 23.2% seen in the previous deal, it is still too high.

One tenant accounts for 59.7% of the leased capacity and 56.4% of annualized adjusted base rent, but also has a AAA rating.

The proposed injection would be structured as a first-out, first-lien bond. The incremental debt would carry a 10.5% coupon with a 2031 maturity.

Data centers across 20 markets will provide the revenues to support the notes. Also, the largest customer accounts for 6.5% of annualized monthly recurring revenue (AMRR).

Domino's also raised $320 million through a variable funding note facility, not offered to investors. Barclays Plc is leading the transaction, joined by Guggenheim Securities LLC.

The transaction structure includes a revolving period of about three years that will shut out principal payments.

A credit analyst manually reviews the pool's underwriting decisions, instead of just leaving it all to automation.

The deal's weakening credit numbers follow timeshare trend.